The loss, as reported by the AFP on Tuesday, means the country’s government and cantons will not receive their annual pay-out from the Swiss National Bank for a second year in a row.
“Like other central banks worldwide, the SNB has raised its interest rates out of negative territory to tame inflation.
“This meant that the SNB had to pay interest to banks parking their money at the central bank,” the bank said.
“Its gold holdings recorded a valuation gain of 1.7 billion francs.
“It will post definitive figures for 2023 on March 4.”